When your business has sufficient cash flow - Purchasing a machine outright can be very expensive - depending on the make and model you select - with some machines costing up to £14,000. If you have sufficient cash flow - purchasing is a great option that helps you avoid lengthy contracts with high-interest rates. However, it is important to remember that although most machines come with a 12-month warranty, service agreements aren’t usually included which can prove costly.
You are certain that the machine you select is one you will be happy with years down the line - Buying a commercial coffee machine outright will mean that you will more than likely have this machine for many years - which is why it’s important to ensure you select a durable and reliable machine. Due to the expensive nature of products such as these, it is unlikely you will have the cash flow available to upgrade regularly to the latest technology - if this is something you wish to do, a lease purchase might be more suited for you.
If your credit check is rejected - Sometimes finance companies deny your request if your credit rating doesn’t meet their criteria, which can leave you feeling defeated. However, leasing is not your only option, with an outright purchase being the next best option available. It is important to remember that not all coffee machines will cost you significant sums of money- with cheaper alternatives being available if you wish to have a more basic selection of features. Many of these machines will still provide you with high-quality coffee, but if you wish for something larger - wishing to add a variety of optional features this will come at a greater cost.
What To Watch Out For When Buying A Commercial Coffee Machine Outright
Budget constraints - When buying a commercial coffee machine, it is important to be aware of your budget restrictions and ultimately what you can get for your money. Those with lower budgets will only be able to acquire smaller coffee machines, with these having lower daily recommended cup counts. However, larger businesses will be able to purchase machines that have larger outputs as well as offering a number of features that increase the machine’s adaptability, such as; syrup stations, cup warmers and payments systems. It is also important to consider the budget for your monthly coffee and cleaning spend - with some branded cleaning materials costing more than others.
Company changes - Are you looking at growing your business in the next few months? This is a question you might hear when going through the acquisition process but is important to think about before proceeding with the purchasing process. Choosing to buy outright is a long-term decision, as the coffee machine you choose will be with you for many years and it is important to take into consideration the potential growth of your business and cater for it accordingly.
Hidden costs - maintenance fees/service charges - When buying a commercial coffee machine outright it is important to consider the additional costs that you commit to when making a purchase of this nature. There are a number of additional fees that should be taken into account; for example, maintenance costs and service charges which need to be considered before choosing to purchase a coffee machine. Once you have committed to purchase a coffee machine outright you have also committed to years of fees - which for some, become a financial burden - particularly if problems surrounding business cash flow arise.
Training - Buying a commercial coffee machine is a viable option for acquiring a great piece of machinery, but one thing you must be aware of is the machine's ease of use. As you will have this coffee machine for a longer duration of time, you must ensure that it is a piece of equipment that employees can easily be trained on/requires little to no training. It’s all well and good having a machine with all the bells and whistles, but if is hard to operate and requires extensive training there's very little point in having a machine.